5.Complete the following worksheet for AdjustedTrial BalanceIncomeStatementStatementofFinancial PositionAccountTitleDebitCreditDebitCreditDebitCreditCash14,500 AccountsReceivable7,500 Supplies500 Equipment20,500 Accumulated Depreciation-Equipment 15,000 AccountsPayable 9,500 WagesPayable 3,060 CapitalStock 13,240 RetainedEarnings, 1/1/2022 5,000 Dividends1,000 Fees Earned 34,000 WagesExpense18,000 Rent Expense9,300 DepreciationExpense8,500 Totals79,80079,800 NetIncome(Loss)

The four financial statements prepared on the basis of these accounting records are Income…

Answered: Complete the following worksheet for…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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What accounting concepts are used in the balance sheet (mainly on assets) based on the data provided below?
How do I create and start a balance sheet for this data?
Please help me
Current assets Cash Accounts receivable Inventory Prepaid expenses Total current assets Current liabilities Accounts payable Salaries payable Income tax payable Total current liabilities (a1) a. $8,600 Current ratio 12,900 b. Quick ratio 145,000 5,200 $171,700 $53,300 3,600 1,000 $57,900 2024 $30,100 10,300 :1 105,000 $152,300 :1 6,900 $40,400 5,000 1,000 $46,400 $27,100 7,700 100,000 During 2024, credit sales and cost of goods sold were $138,040 and $82,500, respectively. The 2023 and 2022 credit sales were $151,200 and $151,840, respectively, and the cost of goods sold for the same periods were $79,950 and $82,325, respectively. The accounts receivable and inventory balances at the end of 2021 were $6,900 and $85,000, respectively. 5,600 $140,400 Using the above data, calculate the following ratios: (Round receivables turnover ratio and average collection period to 1 decimal place, e.g. 15.2, days to sell inventory to 0 decimal places, e.g. 152 and all other answers to 2 decimal…
Prepare a vertical analysis of the balance sheets for Year 4 and Year 3. (Percentages may not add exactly due to rounding Round your answers to 2 decimal places. (i.e., .2345 should be entered as 23.45).) Assets Current assets Cash Marketable securities Accounts receivable (net) Inventories Prepaid items Total current assets Investments Plant (net) Land Total long-term assets Total assets Liabilities and stockholders' equity Liabilities Current liabilities Notes payable Accounts payable Salaries payable Total current liabilities Noncurrent liabilities Bonds payable Other RUNDLE COMPANY Vertical Analysis of Balance Sheets Year 4 Total noncurrent liabilities Total liabilities Stockholders' equity Preferred stock (par value $10, 4% cumulative, nonparticipating; 6,000 shares authorized and issued) Common stock (no par; 50,000 shares authorized; 10,000 shares issued) Retained earnings Total stockholders' equity Total liabilities & stockholders' equity Amount $ 16,900 21,000 55,100…
a.Prepare the Current Assests section of the balance sheet b. Prepare the Current Liabiloties Section of the Balance sheet
subject. financial management. please help.
The current ratio for the following is ..... Group of answer choices .43 .23 .73 .53
1）Statement profit or loss and other comprehensive income for the year ended 31 january 2020 2) Statement of financial position as at 31 january 2020
Using these data from the comparative balance sheets of Carla Vista Co., perform horizontal analysis. (If amount and percentage are a decrease show the numbers as negative, e.g. -55,000, -20% or (55,000), (20%).) Increase or (Decrease) December 31, 2022 December 31, 2021 Amount Percentage Accounts receivable (net) $522,040 $421,000 $enter Accounts receivable in dollars enter Accounts receivable in percentages % Inventory 832,050 645,000 $enter Inventory in dollars enter Inventory in percentages % Total assets 3,383,060 2,773,000 $enter Total assets in dollars enter Total assets in percentages %
Please help me with show all calculation thanku

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	AdjustedTrial Balance	IncomeStatement	Statementof Financial Position
AccountTitle	Debit	Credit	Debit	Credit	Debit	Credit
Cash	14,500
AccountsReceivable	7,500
Supplies	500
Equipment	20,500
Accumulated Depreciation- Equipment		15,000
AccountsPayable		9,500
WagesPayable		3,060
CapitalStock		13,240
RetainedEarnings, 1/1/2022		5,000
Dividends	1,000
Fees Earned		34,000
WagesExpense	18,000
Rent Expense	9,300
DepreciationExpense	8,500
Totals	79,800	79,800
NetIncome(Loss)